Tesco 2002 Annual Report Download - page 26

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24 TESCO PLC notes to the financial statements continued
NOTE 8 Net interest payable
2002 2001
£m £m £m £m
Interest receivable and similar income on money market
investments and deposits 66 61
Less interest payable on:
Short-term bank loans and overdrafts repayable within five years (101) (101)
Finance charges payable on finance leases (4) (6)
4% unsecured deep discount loan stock 2006 (a) (9) (9)
4% RPI bonds 2016 (b) (15) (7)
3.322% LPI bonds 2025 (c) (4) –
1038% bonds 2002 (19) (21)
834% bonds 2003 (17) (17)
6% bonds 2006 (8)
712% bonds 2007 (24) (24)
6% bonds 2008 (9)
518% bonds 2009 (18) (18)
658% bonds 2010 (10) (4)
6% bonds 2029 (12) (12)
Medium term notes (15) (1)
Interest capitalised 63 52
Share of interest of joint ventures and associates (17) (18)
(219) (186)
(153) (125)
(a) Interest payable on the 4% unsecured deep discount loan stock 2006 includes £5m (2001 – £4m) of discount amortisation.
(b) Interest payable on the RPI bonds includes £7m (2001 – £3m) of RPI related amortisation.
(c) Interest payable on the LPI bonds 2025 includes £2m (2001 – nil) of RPI related amortisation.
NOTE 9 Taxation
(a) Analysis of charge in year
Restated
2002 2001
£m £m
Current tax:
UK corporation tax at 30.0% (2001 – 30.0%) 348 314
Prior year items (29) (42)
Overseas taxation 810
Share of joint ventures and associates 91
336 283
Deferred tax (note 22):
Origination and reversal of timing differences (i) 35 51
Prior year items (1)
35 50
Tax on profit on ordinary activities 371 333
(i) The total charge for the year of £35m includes a £3m debit to fixed assets.